Global Crunchy Chocolate Market to Reach US$ 3.8 Billion by 2028, Fostered by Rising Sales of Chocolate-Based Food Items

May 25, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled "Crunchy Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global crunchy chocolate market size reached US$ 3.2 Billion in 2022. Crunchy chocolate refers to crispy wafers coated with a chocolate layer. It is prepared from a wide variety of ingredients, including cocoa butter, sugar, wafer, skimmed milk powder, emulsifier, coconut oil, and flavorings. It is a mouth-watering sensation that tantalizes the taste buds and satisfies cravings for both sweetness and texture. Chocolate is a rich source of flavonoids that helps to eliminate free radicals from the bloodstream and improve blood flow. Additionally, it offers various health benefits, such as memory improvement, skin hydration, and reduced risk of heart strokes and attacks. It comprises antioxidants that help reduce inflammation and lower the risk of heart disease when consumed in moderation. It is widely used as a snacking option in desert toppings, bakery ingredients, train mix and granola, ice-cream mix-ins, and party or event favors. Some commonly available crunchy chocolate includes crispy caramel bits, crushed cookies, toasted nuts, and puffed rice.

Global Crunchy Chocolate Market Trends:

The rising consumption of chocolates among the masses is driving the global market. Along with this, the augmenting sales of chocolate-based food items, such as ice creams, cakes, pastries, candies, donuts, shakes, fudge, and fondants, are contributing to the growth of the market. In line with this, the expansion of the food and beverage (F&B) industry and the escalating number of hotels, restaurants, coffee centers, and bakeries are acting as another growth-inducing factor. Moreover, several leading players are developing vegan, gluten-free, organic varieties using nuts, dried fruits, and cereals, which are gaining prominence among the masses. Additionally, the rising health consciousness and awareness about the availability of healthy snacking options among consumers is creating a positive market outlook. Apart from this, effective marketing campaigns highlighting the indulgence, quality, and sensory experience of crunchy chocolate are supporting the overall growth of the market. Furthermore, the trend of gifting chocolates on holidays, such as Valentine's Day, Christmas, and Easter, as well as special events, including birthdays and anniversaries, is impacting the market favorably. Besides, continuous improvements in the packaging industry are providing a boost to the market. Besides, ongoing improvements in organized distribution channels, and the emerging e-commerce sector are impelling the market worldwide. Other factors, such as inflating disposable income levels of the masses and the growing popularity of organic and sugar-free chocolates, are also influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028.

Market Summary:

On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, non-grocery retailers, and others. Currently, supermarkets and hypermarkets represent the largest market segment.
Based on the region, the market has been categorized into Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa, and Australasia. Among these, Western Europe holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Mars Inc, Mondelez International Inc, Nestle SA, Ferrero Group, Hershey Foods Corp, and Grupo Arcor.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion, Million Tons
Distribution Channels Covered	Supermarkets and Hypermarkets, Convenience Stores, Non-Grocery Retailers, Others
Regions Covered	Western Europe, North America, Eastern Europe, Asia, Latin America, Middle East and Africa, Australasia
Companies Covered	Mars Inc, Mondelez International Inc, Nestle SA, Ferrero Group, Hershey Foods Corp and Grupo Arcor
Customization Scope	10% Free Customization
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Global Crunchy Chocolate Market to Reach US$ 3.8 Billion by 2028, Fostered by Rising Sales of Chocolate-Based Food Items

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